RE:RE:RE:RE:RE:Second court hearing to be held on 7/13/2022Hundo22 wrote:
I'm new to this story , what's going on here ?
There's a state entity called Ingemmet responsible of collecting validity fees and penalties for mining concessions. In 2018, Ingemmet declared that Macusani Yellowcake (now $LI's peruvian subsiadiary) had missed validity payments for 32 of its concessions (covering roughly half of Falchani's and Macusani's resources), and started the process to declare the expiration of those concessions. Macusani (back then a subsidiary of $PLU, acquired by $LI on 2021) tried to find an administrative solution, but once all the administrative appeals where exhausted, they went to the Judiciary and sued Ingemmet, seeking the nullity of all the resolutions issued by the latter.
After a number of delays caused by the pandemic, Macusani Yellowcake finally got a favourable first court decision on November 2021 (restoring the 32 concessions' validity), which Ingemmet appealed. After the last resolution in the judicial process that appeal is now very close to be resolved (in between 3 and 6 months is my estimate), and there are good reasons to believe the first court court decision will be conffirmed.